Crypto ETF Outflows Drop 97% as ‘Get-Me-Out’ Rush Eases
- Investors pulled $17.6 million out of funds in third quarter
- Fund flows follow direction of cryptocurrency prices
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The money flowing out of crypto-related funds in the third quarter has slowed down, a sign that many bearish investors may have already piled out of the risky asset class.
Investors pulled out $17.6 million from crypto exchange-traded funds in the three months ending Sept. 30, according to data compiled by Bloomberg Intelligence. That figure, as of Friday morning, is far below the record $683.4 million withdrawn from such funds in the second quarter. The outflows mainly took place in the past two months. In July, investors poured upwards of $200 million into crypto ETFs.